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Income without proof

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(Querist)
23 March 2012 dear sir,my friend want his income to show in it return but he has no proof for the same.can officer impose penlty if he fail to show proof of income? please advice me
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Pankaj Gandhi Jaiswal

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Pankaj Gandhi Jaiswal (Expert)
23 March 2012 No penalty because penalty is on concealment and not on disclosing, but you have to take care about indirect tax aspect where transaction documents is necessary
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